1. A) identify four possible term project business ideas. The ideas can be variations of a core idea not necessarily four unique ideas. Write a complete sentence for each idea with enough detail to characterize the idea.

Write enough so I can understand the idea. Be specific. For example, saying your idea is a pub is not particularly informative because there are many variations in how pubs operate. Saying your idea is a pub featuring classic video arcade games or locally produced brews would be more specific

B) Reduce the list of four ideas to two ideas that, based on the interest and experiences of group members, seem most attractive as a term project idea. Give abbreviated idea name-like ice cream shop. Reason for choices (full informative sentence) Write at least one complete information sentence for each choice.

C) EVALUATING THE TWO IDEAS

For each of the two ideas listed above, describe the basic need or needs satisfied, your likely target market, possible barriers to entry and the likely number of competitors. Normally you would need to seek data, like marketing data to strengthen your conclusions. However, for expediency, your selections and impressions for this exercise can be based on experience and common sense.

Also, when you identify the likely target market also think about the likely size and buying power of the target market. Depending on the product, a small target market is not necessarily bad, if the product itself is expensive and profitable. For example, selling 10 high end custom houses for a wealthy clientele might make a lot more money for a developer than selling 100 tract houses.